Kimelman & Baird LLC Acquires Shares of 6,725 Phillips Edison & Company, Inc. (NASDAQ:PECO)

Kimelman & Baird LLC acquired a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,725 shares of the company’s stock, valued at approximately $220,000.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Phillips Edison & Company, Inc. by 3.1% in the first quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock valued at $693,619,000 after acquiring an additional 577,445 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Phillips Edison & Company, Inc. by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock worth $40,911,000 after buying an additional 179,775 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Phillips Edison & Company, Inc. by 240.9% during the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after buying an additional 826,891 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Phillips Edison & Company, Inc. by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 1,106,277 shares of the company’s stock worth $36,186,000 after buying an additional 27,611 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. acquired a new stake in shares of Phillips Edison & Company, Inc. during the second quarter worth approximately $32,120,000. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Performance

PECO stock opened at $37.71 on Tuesday. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 81.98, a PEG ratio of 3.64 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $39.08. The stock’s fifty day moving average is $36.33 and its two-hundred day moving average is $34.23.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, July 25th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). The company had revenue of $161.52 million during the quarter, compared to the consensus estimate of $156.29 million. Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. As a group, analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be paid a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 3.26%. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date is Tuesday, October 15th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 267.39%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PECO shares. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Compass Point raised their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Finally, Mizuho raised their price target on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $37.50.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.